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Checkmate: How To Play The Concessions Game In The U.S. Rental Market [Forbes]

APPFOLIO (APPF)  More Company Research Source: Forbes
Last appfolio earnings: 7/30 04:10 pm Check Earnings Report
PDF Post written by Nathaniel Kunes Vice President of Product Management at  AppFolio , which provides cloud-based property management software solutions. Shutterstock Renters are not the only people who benefit from concession offerings. Real estate professionals do, as well, especially in oversaturated or low-demand markets. Concession offerings, like free rent for the first month, help to better attract prospective tenants quickly, because who doesn’t want to get more bang for their buck? Geography plays a huge role in determining how substantial a concession offering needs to be, which is why concession rates tend to vary dramatically across different U.S. rental markets. Offering a high concession rate is sometimes a make-or-break factor in a saturated market with low demand. In other markets, it’s simply a nice perk that can help a vacancy stand apart from unit competition. However, offering concessions for a one-year lease, whi [Read more]

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